THE MONEY SYSTEM

Wairarapa Times-Age, 7 March 1939, Page 5

THE MONEY SYSTEM

PREMIER’S PREDICTION OF CHANGE MR HAMILTON’S CRITICISM. ALLEGATIONS OF DRIFTING & NEGLIGENCE. (By Telegraph—Press Association.) PALMERSTON N„ March 6. "How can the people of New Zealand maintain any confidence in the Government when day after day the Prime Minister or some of his colleagues make statements obviously aimed to confuse the public mind—camouflage for aimless drifting and culpable negligence in their stewardship for the interests of all sections of the people,” said the Leader of the National Party, Mr Hamilton, in a statement issued in Palmerston North tonight concerning Mr Savage’s remarks on Saturday about a coming change in the money system. "Now,” said Mi- Hamilton, "we have the Prime Minister repeating the shibboleth of his class Government, ’the money system must be changed.’ That has been a stock-in-trade statement in the patter accompanying Labour magic, but it means no more today than when it was first uttered as part of the ‘confusion plan.’ It is not the money system; the Government has lived beyond its income, and like any ordinary person, has to call a halt. Penalties must be paid. “The Government itself commenced the tightening of the belts of the people before Christmas; more will receive the order to do so before long. This is Labour justice. If statements could be believed this is all part, of a plan, but large sections of the community already know to their sorrow and expense that there is no plan, only desperate expedients. Labour built a nation for three years. The structure became so topheavy that it threatened to fall about-its ears, and what did it do? It started by making sections of the public—sections that it hopes-are in a minority of the voting strength—pay the first penalties of adjustment.

A STATEMENT RECALLED. “But Mr Savage is apparently even harder pressed. He announces a change in the money system. This is the same Mr Savage who stated in the House in 1935, in reply to one of our Ministers: ‘The Minister will tell the people presently that Labour wants to manage the banking system, but we .are not mad enough for anything like that. “Thousands and thousands of people who have savings or money invested in New Zealand have a right to demand an explanation of this threat. If it is not part of confusion propaganda, then perhaps Mr Savage will perform his duty to the country and tell the electors details of his proposed change. Is he talking, to capture a phrase of one of his colleagues, ‘through the top of his head’? If Mr Savage does not answer this question he must be convicted of hypocritical talk . BRITISH .INVESTMENT. “Mr Savage has given other examples of his aptitude for generalities. He went as far as to tell Great Britain that she should learn that she must invest in the British- Dominions. Why, before Mr Savage ever came to New Zealand that investment provided the foundations on which, with the hard work of the pioneers, New Zealand was built. It should not have been difficult for Mr Savage to find that out or to find out, too, that from the industry and thrift of many generations, supported by confidence given by the knowledge that Great Britain is the Dominion’s greatest friend, assets were created. Those assets are now being jeopardised by Labour’s extravagance its placing of unproductive work at a premium. Why not cease to be hypocritical and tell the people that last year alone Great Britain took £22,009,000 worth of goods more from us than we did from her. But perhaps Mi Savage still wishes to ‘tell Great BriI am drawing attention particularly to Labour’s insincerity in the statements of its leaders. There is ample evidence of misstatement and evasion of questions as to vital issues. Now Labour, through Mr Savage, announces in generalities and innuendoes a changing 0 of the money system. “LACK OF CONCRETE FACTS.” “Lack of concrete facts and essential details such as is evidenced in this latest statement again merely adds to the lack of confidence growing in the community. In this case the confusion must be among that section with which the Government must seek co-opera-tion in its attempt to rebuild a nation exhausted by three years of boom and burst administration. When that section is told by responsible Government members that it is outlawed, that the whole financial structure must be changed, then the Labour Government is achieving a disastrous result lor which it must ultimately answer. “Mr Savage always quotes the extreme —-the exploiter —to make a case for himself, but why does he not understand that the exploiter can be dealt with without wrecking the whole system. Mr Savage cannot have the confidence of one person in the Dominion who have savings or investments till he is candid about the details of his money system plans. “Mr Savage says that he will not apologise to the Reserve Bank or to anyone else. Whether anyone has already suggested that Mr Savage owes an apology to the people because of his intended manipulation of the money system is by the way; but he must foi once be candid in his explanation of the manipulation.” Mr Hamilton will leave Palmerston North for Hastings tomorrow. He will lunch in Napier the following day and speak in Waipukurau the same night. He will visit Dannevirke on Thursday night and then "proceed to Wellington.